Yiren Digital Ltd. (NYSE:YRD) stock rose on Thursday after the company announced a new share repurchase program.
Yiren Digital Authorizes Buyback
The board authorized Yiren Digital to repurchase up to 10% of its total issued and outstanding ordinary shares and/or American depositary shares for up to $20 million over the next 12 months.
The company may conduct repurchases in the open market, privately negotiated transactions, block trades, or other legally permitted methods, including Rule 10b5-1 trading plans.
Repurchase Timing And Funding
Yiren Digital said the timing and size of any buybacks will depend on market conditions, trading price, trading volume, and other factors. The board will periodically review the program and may adjust its terms or size.
The company expects to fund the repurchases with its existing cash balance.
Q1 Loss Widens As Credit Revenue Falls And Insurance Growth Improves
Recently, Yiren Digital reported a first-quarter 2026 net loss of 494.7 million Chinese yuan ($71.7 million), compared with net income of 247.5 million yuan in the year-ago period, as weaker credit solution activity and higher credit-related costs weighed on results.
Total net revenue fell 41% year over year to 915.1 million yuan ($132.7 million). Credit solution revenue declined 39% to 795.7 million yuan. However, insurance brokerage revenue increased 22% to 87.2 million yuan, driven by growth in internet distribution.
The company facilitated 8.9 billion yuan in loans during the quarter, down 42% from a year earlier. Meanwhile, its insurance business continued to expand. The number of insurance clients surged 413% to 397,854, while new insurance policies increased 135% to 999,575.
Yiren Digital also said it continued to advance its “All-in-AI” strategy by upgrading its MagiCube platform and making seed investments in three AI application companies.
YRD Stock Price Action In Premarket Trading
YRD Stock Price Activity: Yiren Digital shares rose 18.65% to $1.07 in premarket trading on Thursday, according to Benzinga Pro data.